NEW YORK (TheStreet) -- TheStreet's Jim Cramer is taking a look at some of the best ways to play the transport sector. 

FedEx (FDX) has become a "must own" stock in the sector, he said, along with other companies such as American Airlines AAL and Delta Air Lines (DAL). 

He referred to FDX as an "anointed stock," meaning market participants seem to think the stock can do no wrong.

However, just because it's an anointed stock doesn't mean it's the cheapest. Cramer called United Parcel Service (UPS) the less-expensive stock in terms of valuation. 

Because of this, he suggested investors buy FDX ahead of its earnings report on Wednesday, via deep-in-the-money call options.

Going long FDX ahead of earnings is the trade, while UPS is the better long-term investment for now, he concluded.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

More from Opinion

Amazon Is Not Killing Every Retailer, Only These Laggards

Amazon Is Not Killing Every Retailer, Only These Laggards

Nvidia Slides After Issuing Light Guidance: 5 Key Takeaways

Nvidia Slides After Issuing Light Guidance: 5 Key Takeaways

Chip Stocks May Have Sold Off Too Much On Recent Spate of Bad News

Chip Stocks May Have Sold Off Too Much On Recent Spate of Bad News

Flashback Friday: Tesla Takes a Hit

Flashback Friday: Tesla Takes a Hit

How to Get Out of a Car Lease Early Without Penalty

How to Get Out of a Car Lease Early Without Penalty